"terrorists" will be beaten after security source concedes Islamic State of Iraq and Levant takes over.

Last updated: 04 Jan 2014 18:36
"The Iraqi prime minister, Nouri al-Maliki has vowed to eliminate "all terrorist groups" from Anbar province as a security source conceded the government had lost control of the town of Fallujah to al-Qaeda linked fighters.
Maliki, speaking on state television on Saturday, said his government would end "fitna", or disunity, in the province and would "not back down until we end all terrorist groups and save our people in Anbar".
His comments came after a senior Iraqi security official told the AFP news agency that the government had lost control of Fallujah to fighters from the Islamic State of Iraq and the Levant (ISIL).
Videos showed ISIL fighters in control of the main Fallujah highway, and officials and witnesses inside the town told the Reuters news agency that ISIL was in control of nothern and northeastern parts of the town."

"One could slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined.

The conjuring trick is to replace our system of private bank-created money -- roughly 97pc of the money supply -- with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.

Specifically, it means an assault on "fractional reserve banking". If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.

The nation regains sovereign control over the money supply. There are no more banks runs, and fewer boom-bust credit cycles. Accounting legerdemain will do the rest. That at least is the argument.

Some readers may already have seen the IMF study, by Jaromir Benes and Michael Kumhof, which came out in August and has begun to acquire a cult following around the world.

Entitled "The Chicago Plan Revisited", it revives the scheme first put forward by professors Henry Simons and Irving Fisher in 1936 during the ferment of creative thinking in the late Depression."